While Turkey’s activity in the deep sea segment has weakened over the past week, Turkish mills’ interest in short sea purchases remains strong.
According to market sources, early this week Turkey booked a total of 15,000 mt of HMS I/II 80:20 scrap at $253-255/mt CFR. The deals were closed for Romanian and an ex-Adriatic region origin material, with the prices for Romanian scrap having added $1/mt, while the sales prices for ex-Adriatic scrap remained stable. In the new round of sales, the level is expected to remain the same for scrap from Bulgaria and the Adriatic region, while Romanian scrap may firm up to $255-257/mt CFR. In addition, currently ex-Russia A3 scrap prices are estimated at $257-260/mt CFR.
Sellers of ex-Israel scrap have been also active. After a long period of resistance, they have agreed to accept low bids from Turkey. As a result, around 5,000 mt of HMS I/II 75:25 scrap were sold to the Marmara and Iskenderun regions at $238/mt CFR.
Sources expect Turkey to remain active in short sea purchases, partly as there are some delays in the deliveries of deep sea scrap cargoes to collection problems on the sellers’ side.